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Oil prices fell further on Wednesday, heading to six-year lows, while crude's weakness continues to test investor confidence, pushing the yen up and weighing on Asian equities.
The euro also slipped further after comments from a key member of the European Central Bank fanned expectations that it will unveil a vast bond-buying scheme at its policy meeting next week.
On oil markets US benchmark West Texas Intermediate for February fell 18 cents US$45.71 (S$61), a level not seen since March 2009, and Brent slipped 25 cents to US$46.34, its lowest since April 2009.
MALAYSIA share prices opened lower on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 6.95 points to 1,741.95.
Volume was 20.29 million lots worth RM11.84 million.
Gainers outnumbered losers 82 to 57.
MALAYSIAN shares ended higher on Tuesday with the Kuala Lumpur Composite Index adding 13.82 points to close at 1,748.9.
Some 1.91 billion lots, valued at RM2.12 billion were traded. Gainers numbered 502 while losers numbered 313.
The dollar fell slightly against the yen in Asian trade Tuesday, with dip-buying kicking in to lift the greenback off a one-month low.
The dollar USDJPY, +0.13% was down slightly to ¥118.24 compared with ¥118.35 late Monday in New York. With the benchmark Nikkei Stock Average NIK, -0.64% falling as much as 2.1% earlier in the session amid sliding oil prices, the dollar started extending its downside against the yen, perceived as a safe haven in times of financial instability.
The yen strengthened against the euro EURJPY, -0.15% which was briefly at ¥139.45, its lowest since Oct. 31. The euro later recovered to ¥139.98 from ¥141.06 in New York.
The euro EURUSD, -0.29% was almost unchanged at $1.1839 from $1.1837.
The WSJ Dollar Index BUXX, +0.29% a measure of the dollar against a basket of major currencies, was up 0.06% to 83.95.
Nymex reformulated gasoline blendstock for February—the benchmark gasoline contract—fell 46 points to $1.2699 a gallon, while February diesel traded at $1.6426, 115 points lower.
ICE gasoil for February changed hands at $464.50 a metric ton, down $7.00 from Monday’s settlement.
